Pengaruh Rasio Likuiditas, Solvabilitas, dan Profitabilitas Terhadap Kinerja Keuangan

Abstract

Financial performance decline reflected by losses, decreased equity, and bankruptcy among several Indonesia’s textile subindustry companies during the 2020–2024 period is suspected to be influenced by financial aspects. This study aims to examine the effect of the current ratio (liquidity ratio proxy), debt to equity ratio (solvency ratio proxy), and return on equity  profitability ratio proxy) on return on assets (financial performance proxy) in textile subindustry companies during the 2020–2024 period. This quantitative study used a sample of 9 companies determined through purposive sampling. Secondary data sourced from annual financial reports and obtained from the IDX’s official website were analyzed using parametric inferential statistical
analysis with SPSS version 26 software. The partial results indicate that the current ratio had a significant negative effect on return on assets. Conversely, the debt to equity ratio and return on equity did not have a significant effect on return on assets. Meanwhile, the simultaneously results indicate that these three variables had a significant effect on return on assets with a  coefficient of determination (R2) of 12,9%. These results indicate that companies need to maintain their current ratio at an optimal level and comprehensively evaluate the effectiveness and efficiency of their fund utilization. 

Penurunan kinerja keuangan yang tercermin dari kerugian, penurunan ekuitas, dan kepailitan yang dialami beberapa perusahaan subindustri tekstil Indonesia sepanjang periode 2020–2024 diduga dipengaruhi oleh aspek keuangan. Penelitian ini bertujuan untuk menguji pengaruh current ratio (proksi rasio likuiditas), debt to equity ratio (proksi rasio solvabilitas), dan return on equity (proksi rasio profitabilitas) terhadap return on assets (proksi kinerja keuangan) pada perusahaan subindustri tekstil periode 2020–2024. Penelitian kuantitatif ini menggunakan sampel 9 perusahaan yang ditetapkan melalui metode purposive sampling. Data sekunder yang bersumber dari laporan keuangan tahunan dan dihimpun melalui web resmi BEI diolah menggunakan analisis statistik inferensial parametrik dengan bantuan peranti lunak SPSS versi 26. Hasil penelitian secara parsial menunjukkan bahwa current ratio berpengaruh negatif signifikan terhadap return on assets. Sebaliknya, debt to equity ratio dan return on equity tidak berpengaruh signifikan terhadap return on assets. Sementara itu, hasil penelitian secara simultan menunjukkan bahwa ketiga variabel tersebut berpengaruh signifikan terhadap return on assets dengan nilai koefisien determinasi (R2) sebesar 12,9%. Hasil ini mengindikasikan bahwa perusahaan perlu menjaga current ratio pada tingkat yang optimal serta mengevaluasi efektivitas dan efisiensi penggunaan dana secara menyeluruh.